I paid for a service to a company in the USA, the item price was in $… Later the service was refunded, the amount after currency conversion (done by bank, not me) came to £3.71 more than I paid. I tried to tag this as a refund, but the supplier details don’t show up. The details are there, but as the amount is different, I guess they don’t show up or could this could be a bug? I don’t know as I’ve not had this issue before.
Any help appreciated.
Did you record the purchase in QuickFile as USD or did you just log it as the GBP amount you paid after currency conversion?
If you recorded it in USD then you should be able to go to the original purchase and create a credit note from there for the full USD amount, and if you specify that the refund came into a GBP bank account then at that point you can provide the exact GBP amount refunded. This will deal with the currency difference for you, and create a pre-tagged refund transaction in the bank account so you need to delete the untagged one from your feed.
If you recorded the original purchase in GBP then you need to deal with the exchange rate yourself - go to the purchase and credit it in full into a spare bank account like director’s loan or drawings, then tag the money you received in your current account as a transfer from that same account. This will leave the DL/drawings account balance £3.71 lower than it should be, representing the currency exchange difference. To get things back in balance create a new money in transaction on the DL for £3.71, and tag it as “something not on the list” to the “currency charges” nominal. This is basically what QuickFile would have done for you if the purchase were recorded in USD.